FAQ’s

Conveyancing is the legal process of transferring the ownership of a property from one person to another. If you want to buy or sell a home, land or investment property you’ll have to sign a contract. The legal work involved in preparing the sales contract, transfer, mortgage and other related documents, is called conveyancing.

Conveyancers are specialists who are educated and qualified to provide expert advice specifically in relation to matters of property law. Conveyancers do not handle other legal matters such as wills, divorces, family law and criminal matters. This means that we don’t get distracted by other matters and our attention is purely on the sale or purchase of your property.

1. Conveyancers are experts. Conveyancers are qualified practitioners who specialise in the legal aspects of buying and selling real estate. They are educated and qualified to provide expert advice in relation to matters of conveyancing and property law.
2. Conveyancers are focused. A licensed conveyancer is solely focused on property transactions and will not be distracted by other legal matters.
3. Conveyancers are insured. Conveyancers are required to carry professional indemnity and fidelity insurance. In the unlikely event of an error or omission, clients can be assured that they are completely covered.

No. We are able to look after all the legal matters in relation to your property transaction.

The earlier you contact us, the better. If you’re planning on selling your home, you’ll need to speak to us before you can put your house on the market, so we can prepare the contract. If you’re buying, it is recommended that you contact us as soon as you’ve seen a property that you’re interested in. Request a contract from the real estate agent and email it to us and we will provide a comprehensive review at a fee of just $250.00 + GST!

The standard settlement period is 4 – 6 weeks after contracts have been exchanged. However, settlement terms can be negotiated by the buyer and seller prior to signing the contract. If you are both happy to settle within a week or two, we can certainly ensure that we have everything ready to make that happen.

It is possible, but it certainly isn’t recommended. An authorised “PEXA” subscriber will still need to be appointed to complete the actual settlement online. We understand that when you’re spending so much money buying or selling a property, you might be looking for ways to save money elsewhere. However, a small mistake could end up costing you thousands of dollars. You need to use an experienced conveyancer who knows what to look for, and also carries insurance to cover you (in the unlikely event of an oversight). If you ‘do it yourself’ and make a mistake, then you are fully responsible and will not be able to get financial compensation. It’s just not worth the risk!

All licensed conveyancers are required to have professional indemnity insurance. This insurance provides you with cover in the unlikely event that we make an error that results in a cost to you. Conveyancers are licensed by the NSW Department of Fair Trading and are responsible to them in relation to matters of conduct and propriety.

Legally a real estate agent is required to hold a copy of the Contract for Sale before submitting the property to any potential purchaser. A contract outlines all the details of the property and exactly what is included with the sale of the property (dishwashers, window treatments etc.). A number of documents tare required (by law) to be included in a Contract for Sale. If any of these documents are missing then the purchaser may have a right to just walk away from the contract within 2 weeks and get their deposit refunded. To start drafting a contract of sale all we need is the property address and we can begin the process for you.

If you buy a property at auction you are required to exchange contracts and pay the deposit right there and then. It is advised that purchasers who are really interested in buying a property at auction have all the necessary searches (building & pest, strata etc.) on the property carried out prior to the auction. There is no cooling off period.

Buying a property that is “for sale” by private treaty is where interested purchasers make a formal offer to the real estate agent. This is then either rejected and another offer can be put on the table, or accepted and contracts are exchanged – often with a cooling off period.

Generally the deposit is payable to the real estate agent. However, there are some exceptions, so once the Contract of Sale has been reviewed, we can advise you as to who the deposit would otherwise be paid to.

A cooling period gives the purchaser the right to cancel the agreement within 5 working days. It gives the purchaser some protection if contracts have been exchanged quickly and gives the purchaser time to finalise financial arrangements, undertake pre-purchase inspections or carry out title searches.

Cancelling the agreement (also known as rescinding the contract) will cost the purchaser 0.25% of the total purchase price (on a property costing $1,000,000 this would be $2,500). The cooling off period does not always apply and can be waived by providing a certificate which is signed by the conveyancer who has explained to his or her client the implications involved with waiving the cooling off period. Cooling off periods do not apply at auctions.

A disbursement is the name given to expenses incurred during the conveyancing process and may include (but not limited to) building inspections, strata reports, government searches, sundries, settlement fees, title searches etc. Disbursements are expenses that are separate to your conveyancing fee and are expenses that vary depending on the property you are selling / purchasing.

Settlement is the finalisation of the sale or purchase process. Typically, there are four parties involved – the seller’s and buyer’ s conveyancers and the financial institution (if any) for each party. Settlement is completed online when purchase moneys are paid by EFT as directed by the vendor’s conveyancer and in return the title to the property is transferred to the buyer. It is not necessary for you, as the buyer or seller, to attend the settlement.

Immediately after settlement the local Council, Sydney Water and the Valuer General are notified of your purchase. Other service providers such as electricity, gas, internet and telephone etc need to be notified by you, the purchaser.

Usually, the keys are collected from the real estate agent once we have notified your agent that settlement has been completed.

If the vendor (person selling the property) cannot settle on the due date, the purchaser can issue a ‘Notice to Complete’ which means the vendor has 14 days (including weekends and public holidays) to settle the matter. If left unsettled, the purchaser has the right to terminate the contract and is eligible to receive their deposit back. The purchaser may also apply to the Court to either pay “damages” or have the vendor complete the agreement and hand over possession.

If the purchaser cannot settle on time, the vendor is entitled to charge the purchaser legal expenses and interest for the number of days settlement is delayed. The contract usually stipulates the applicable interest rate. In this case, when the ‘Notice to Complete’ is issued, the vendor may terminate the contract and keep the deposit. The vendor can then legally place the property back on the market to sell.